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to get anything going and that's the way to deal with the deficits, of course. and there were some measures there. no national insurance payments for employees for the first few thousand pounds reducing corporation tax earlier to 20%. infrastructure spending, could it be more? businesses would always want more. but there was acknowledgement he tried while keeping the next fiscally neutral. on the whole, businesses say, not bad, could have done more. i think that will be the summation for them. the key factor, of course, is if you're not going to do more to stimulate your own growth, what happens to the eurozone becomes even more important. and i did speak to the chancellor, george osborne, just a short while ago and i asked him how worried is he about what's going on in cypress? this is what he had to say. >> it is a worrying situation in cypress and i think there's been some sole rans in international markets and elsewhere that they've got to sort these problems out. but obviously, we now need a solution. if i would have concerns if these depositors, less than a hundred thousand e
account deficits, we're not shipping as much joe seas? >> when people think of the economic situations, they think of the u.s. but what it will do, it will cut into the u.s. deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that might be going away. at the same time, china surplus will suffer from the tracing of independence of china. >> that's strong dollar weak yuan. becky. >> just an observation. >> first, tight oil, i haven't heard of this before. i know where the marcellus shale fields are. where is tight oil? is it in the same sort of locations? >> same. traditionally, coming out of gas yields because of this huge different between gas and oil prices. which
for that, because we had the great recession, and we needed to engage in some deficit spending to offset that demand contraction. historically the debt goes up in periods like this. in world war ii, it breached 100%, then a few years later it was 50%. the debt is expected to start coming down within a few years. over the long term, there are real pressures on the debt through health care costs. that's what i would tell mr. penny. >> excellent. that's very helpful. josh, the president last week was secured on the right for suggesting there was no dead crisis in american. later in the week this is what speaker boehner and paul ryan had to say. take a listen. >> is he right, that we don't have an immediate crisis. >> we do not have an immediate debt crisis. >> we do not have a debt crisis right now, but we see it's coming. it's irrefutably happening. >> what are they doing by repeatedly fanning into flame the notion of a debt crisis, when they themselves when asked directly say exactly what jared said. in the immediate short term, it is not a pressing issue. >> it's because it's instrumenta
as this president's-- as this president tells us we don't have a deficit problem. >> greta: i don't get in. the pr, look, he's not going to sit down every night and do the budget himself, he outsources to his staff, but you've got the house and the senate had the same hurdles he did, whether it's a continuing resolution or sequestration, the same problems and they've now gotten their two budgets in and you think that he would crack the whip on his own staff and say, get this in so we can move forward. >> i have to tell you, greta, when i was the mayor of new york i did my budget. i spent hours, stayed up until, 3, 4, 5 in the morning at times going through the budget because i believed that i understand it as the chief executive. i had to understand the budget because the only way you really can make an impact on government is by understanding the budget. and for this president to be in office for five years, not be able to get a budget done on time, really tells us that he has no interest in our economy, he has no real interest in straightening out our budget problems. i don't know what his prior
deficit. for students in detroit problems with the education system are being magnified by that community's economic troubles. if you look statewide a quarter of michigan children under 17 were living in poverty in 2011. compare that to detroit where the number is more than twice that much. it is 57%, folks. nearly two in three detroit children 5 and under are below the poverty line. msnbc's correspondent joins us live from detroit where she'll cohost a summit on education today and a student town hall tomorrow. those numbers are frightening and daunting. >> they really are startling numbers. i've got my notebook with me because i'm going to school today, chris. it has a lot of people worried and concerned and working to change the dynamics of those numbers. that's what we'll be talking about here. many people are also concerned about the fact, the elephant in the room we can't dismiss that come monday the city of detroit will be under the auspices of an emergency financial manager. people should also know for the past four years detroit schools have been under emergency management and in
in deficit reduction. there's plenty of room to cut more. and plenty of room to raise revenue and that's part of any big package. >> you heard senator corker, lay ought, if they give this, we'll give this as well. entitlements is what he's saying on the democratic side. what would you be open to? >> i'd be open to reducing costs in medicare. i think the affordable care act made a good down payment that way in reducing payments to medicare advantage plans. we can reduce overpayments to pharmaceuticals. and we can put costs by focusing on making sure the services are deliverable rather than paying for the number of services. there are ways to bring down costs without attacking the benefits under medicare. social security, a little more difficult. i think many of us would support raising the lid at which payroll taxes are paid into the system. that would help preserve social security for another generation. so there are changes democrats have been willing to embrace to reduce costs to raise revenues to support those programs. but we need a willing partner on the other side. and in the house we d
about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recession, a recession in a great recession. only world war ii ended the depressio
. literally you have $3 billion in deficit, annual deficit every year. and employment is double digits. as you said, not only do you have a class divide, you have major socioeconomic divide between the ruling class and the rest of the opposition. more than 40% of jordanians are basically living in poverty. not to plepgs that as you suggested earlier, most of the population in jordan are palestinians so the palestinian/israeli conflict weighs very heavily on the king. and it is for the first time after the arab spring, the king's ledge gitimacy is being challenged. not only from his own tribal base, and this is the situation for the king. that's why president obama is in jordan today to shore up the king and provide some financial assistance as he did, $200 million on top of the $500 million annually that the united states provides to the kingdom. >> you mentioned president obama leaving israel for jordan. one question is what has he left behind? the oldest newspaper in israel, founded before the country was founded said that security will not be attained by military means alone. rather, it wil
who are being affected by that. you know, the best way we can deal with our debt and deficit long term is to grow the economy and that's what this budget does. it recognizes we need to invest long term. we need to cut spending and it does that. it does not do that. >> we need to invest long term. >> senator, with all due respect and i month your point of view may i just add after $650 billion tax hike already this year you raising taxes at least another trillion, i don't know how that is pro growth. regarding the sequester, i can understand making some changes to the sequester with regard to the management of the subaccounts particular in the defense department but you're not doing that. you're spending most of that money. associated press reports often years there may be a couple hundred billion dollars of spending cuts but the sequester was 1.2 trillion. you are in effect raising spending and raises taxes are you not? >> the budget closes a lot of corporate loopholes where we've been paying for people who go overseas and create jobs rather than paying to create jobs here at home. i d
that passed through the senate really echos what president obama would like to see in terms of deficit reduction but the problem, of course, is when you match up is the senate bill with the house bill. the senate bill calls for deficit reduction through increasing taxes and spending cuts and, of course, the house bill calls for steep cuts in balancing the budget within ten years. of course, some revisions to medicare as well. a lot of differences and we have another deadline coming up. the debt ceiling will have to be revisited this summer, alex. >> looking forward to that. >> reporter: yeah, we all are. >> thank you very much, kristen welker. >>> joining me right now, andy sullivan and ann palmer. ann, i'll begin with you. the president is back from the middle east. the reviews are out there. how are you getting the word in terms of how he was perceived? >> i think one of the key things you can look at is what the israeli press put out in the days following his first steps and throughout the entire visit and it was a resounding applause. he got very good praise from them. obviously fr
there? you can go and beat hair cut there. but they are running deficits of $350,000 a year. time to privatize? >> kimberly: time to supercuts. >> dana: speaking of that, we did a google search. if you let the senators know it would not be the end of the world if you had to give up the senate barbershop. look on the map. there are seven places in walking distance from the capitol to get your hair cut. >> kimberly: now give them coupons to go over there. and give it to the barber and start it up. c'mon, i pay less to get my hair done. >> dana: time to privatize the senate barbershop? >> greg: i don't know. look at the success the barbershops have had. good job, guys. >> eric: you got your hair cut? >> greg: they fell asleep at the wheel. i use the great acres analogy. obama's democrats are like the sexy zaza that could expense every vehicle they have. eddie arnold is the guy that always has to play the bills. we have zsa zsa gabor in the white house. it's great because in a sense they're our mother so they tell us thousand use the microwave. might be at night they give us a bedtime
we go deficit reduction. you saw minutes 6-3. there was expectation we had noises out from tucker that perhaps there might have been a bigger number voting for qe. what we will look at today is to see what osbourne does with the bank of england and there's a bunch of things he might do from amending the target, inflation target to changing the bank of england act saying we'll put in a jewel mandate. that may be more of a focus than anything he says about borrowing figures and growth numbers. >> absolutely. you can look at the sterling reaction here, ross. we're spiking above 151 now on the back of those minutes. melanie, over to you. i guess investors would have liked to see hints of a more accommodative bank of england here during the last meeting. might there not be more of a policy shift under way perhaps as ross said related to even changing the mandate? >> in terms of what we're expecting today, we do think that it might be the more interesting of the budget to watch. i wouldn't expect any big changes today. i think what he may do is announce a review of the policy fra framew
it has no choice, its schools are running a deficit of a billion dollars, that's just the schools. so, it plans to close 50. largest single school closure in recent memory anywhere. needless to say, a lot of folks in chicago aren't happy about this, right? >> you know this story, don. you grew up in chicago, you covered school issues. it's a big deal, very divisive story in the sense that there are a lot of people who are worried this is going to hit mostly african-american communities. the city's south side. we haven't seen the list yet. the list is supposed to come out today at 5:30. look, a lot of people are anticipating this list, they think it's going to hit the south side hard. >> they were saying possibly in the beginning of the school year they were saying they were going to close 80 to 100 schools and they may have gotten off easy this time because it's only 50 schools, but this is the single largest school closure in one year ever recorded. >> we're talking about again the third largest public school system in the country. >> you talked about the south side. south and west s
the loopholes, the revenue you get from that to reducing the deficit. but paul ryan wants to do is take that money from closing loopholes and use it to give bigger tax breaks to people at the top. that's not going to fly. >> we have to take a break. james -- i think you're hanging with us, i don't know if the air ca kisses that harold was blowing to you reached up all the way in new orleans. >> i'll take compliments, particularly from a guy from memphis. >> they're coming at you, we'll take a short break, when we come back, hillary clinton joins the evolution revolution on marriage equality as the movement gathers momentum. some republicans are stuck in a state of denial. we'll discuss, just ahead. [ female announcer ] research suggests cell health plays a key role throughout our lives. one a day women's 50+ is a complete multivitamin designed for women's health concerns as we age. it has 7 antioxidants to support cell health. one a day 50+. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there !
anything intelligent with our budget deficit. so the logical default currency is gold. we had a lull in european problems, but thanks to a lack of regulation -- how else did cyprus get out of hand, especially if the same thing happened in iceland, the lull is over. i think this is one more reminder rich europeans will switch from keeping europe owes in banks to keeping gold in deposit boxes. if you have no exposure to gold, buy some now. sure, most europeans may keep their money in the bank. they live there, that's their life. but the wealthy are looking to pull out money over time and the big beneficiary will be gold. amazingly, the european regulators can't help themselves. their incredible incompetencies makes buying gold the easiest decision in the world. these idiots are the gift that climpgs the gold buy every time they take action and this latest action may be the best when it comes to pushing gold higher than maybe since the reign of the former european central banker chief jean, "the fraud" trichet. carfirmation. only hertz gives you a carfirmation. hey, this is challenger.
, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job, downright cool. and the fed insists that for reasons of economics as well as humanity, it will continue to do what has not worked. >> and i want to get your take on cyprus and europe, but let me put that aside for a moment. because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the greatest and most perilous experiment in th
be in a deficit in 10 years the argument however is that the senate budget creates jobs and economic growth from the middle out. now, that's according to the author. senator pattie murray. for the democrats the vote is a really big accomplishment. >> first of all, over the last two decades the average budget resolution considered 78 amendments. we have done 101. the average vote arama 70 amendments. twice as many. doing this has been a her could herculessen feet. senator murray and senator sessions. >> during the vote senators were facing more than 500 amendments which were filed but 70 were voted on. of course when you do take a 13 hour six minute vote there has to be a little bit of humor. >> it is good to say that as -- as of this time, 5:00 a.m., there has not been a day without a budget being passed in the united states senate. >> and some interesting observations from the vote. all democrats voted yeah with the exception of for up for re-election 2014. unfriendly to democrats. mark beg gich from alaska. baucus from montana. pryor from arc. hagan from north carolina. recently passed the rya
.6 trillion annual budget, he can manage a $16 trillion deficit, but somehow he can't figure out how to keep tours open for the american people? he can't even figure that out? how is he supposed to figure out all those other heady things bob is talking about the real serious decisions which he can't control that he does control which is the white house. bill: talk about the job loss. that eventually will come. bob, if you were working in the white house would you have closed off the tours? i mean is that the decision you would have reached for? >> i would have canceled toilet paper order first. the reality is, but, look, you know, when brad talks about this, there are now boats in newport news, virginia, in for retrofitting have been stopped, the work on them. there are airports that are in fact airports closed down, small ones around the country. there have been furloughs done at the border. there are a lot of things going on here that should not be looked at. bill: it will not look good if you have 35,000,000 members of congress and their family members on the south lawn -- >> i'm not argu
're going to see the debt and deficit dwindle massively. let's talk about the contest in which dr. carson were speaking, if were talking about the debt and the policy prescriptions of the democrats and the obama administration then he needs to present a counter argument. he needs to present a vision for america that goes against that and he's fnot doing that, he's condemning and criticizing the president's motives, and by insinuation. >> that's absolutely not true. and in fact-- >> disrespectful for the office. >> first of all, he's not run for office. he's not doing this to seek political power, he loves this country. and number one. number two, you mentioned the debt, megyn, this president by the time he leaves office and reelected and we can all agree it that would have added more to the debt than all of his predecessors, including the much maligned george w. bush combined. he had no pro growth, and doesn't protect the balance and the president is delinquent by two months presenting a budget. en you're making your assessment at 5% growth and we have government spending at 25% of gdp. t
. >> the mayor has to do something. they've got a $1 billion budget deficit. so he has to do something. but the problem is, what does he do? at the beginning of the school year, some people are saying they got off easy with just 50 schools, carol. at the beginning of the school year, they said they were going to close potentially 80 to 120 schools. so it's causing issues. there's no money. also, racial issues in the city, because black alderman are saying, we got you elected and now you are closing most of these schools in black neighborhoods on the south and west sides of chicago. and you didn't listen to us. there was no consensus about which areas and which schools should be closed. so it's causing some big issues, beyond money. >> i would suspect that parents are concerned about their children's safety, too. because these children now have to be transported farther to school. they can't go in their own neighborhoods. >> and besides the issue that we have with guns, we can talk about. but, yes, safety, just outside of that issue, where are the resources going to go? which schools? i
. cyprus needed a total bail out of 17 billion euros and they needed to to fund their banks and deficit. they said we will only give you ten and you have to come up with the other seven. it led to runs on atms in cyprus and protests as the president arrived at parliament. here's what they decided to do. they're going to tax bank depos sxits the ox original plan on saturday, 10% if you have an account larger than 100,000 euros and here's what led to the protests, 6.75% if you're under 100,000 euros and that's fdic deposit insurance. market watchers were aghast that insured depositors would be hit, but the insurance was essentially a falsehood. what if citizens in italy or spain begin to think that they being lose their money even if it is supposedly insured? could that lead to bank runs? it is so controversial the cyprus parliament couldn't get it passed yesterday. they say they would do it today. it didn't happen and now they're trying for tomorrow. they are re-working the plan so the smaller guy is not hit so hard, but still, it appears they're going after insured deposits. why did the
a surplus of politics and deficit of intelligence when it comes to this. germans and fins and a number of others feel they have to tell very uninformed electorate that they are being tough. we have to extract some blood. they don't understand that this is a two pointed sword. by trying to extract blood from greeks sand cypriots they are inflicting enormous pain. $500 billion worth of capitalization around the world wiped out. >> as moronic as this plan was, we've heard there are not a lot of options. >> there are options. >> first of all, they should be putting in place the equivalent of the fdic. when we close a failed bank in the united states, we go in on a friday with fdic and occ. it's all hush hush. you close the bank. you move the depositors money into a good bank and you don't lose faith in the banking system. >> don't they need 27 countries to put that in their charter? >> this is what europe was moving toward. this is what was recognized this past summer and this is why -- >> we knew it would take time. >> this throws that out the window and the thing is that they're not sayi
to approximately 5 billion euros. because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. but the europeans have made a categoric statements. cypress has to come up with 5.8 billion euros. it can't be throu
, thankfully. >>> facing a $1 billion deficit, chicago public school system is making some really big changes. ceo barbara byrd bennett says the district's underutilized skols will be closed. they have not said how many schools are expected to close but opponents say they unfairly target minorities. >>> 24 and counting for the miami heat. but it was not easy. it hasn't been easy the last few games. lebron james and company came back from 27 points down in the third. >> can you believe that? >> beat his old team, the cleveland cavaliers 98-95. a triple-double. 12 boards, 10 assists. the heat are now within nine games of the nba record for consecutive wins held by the '71-'72 los angeles lakers. >> do you think they'll do it? >> no. they almost blew it against the celtics, almost blew it against the cavs. they are the best team i've seen in years. i don't think they should ever lose necessarily but that's a lot of games to win in a row. >> i can't believe they were down that much and came back. >> i can't believe you can do that every night. >> i think they're doing it on purpose. >>> recovered
deficit. we're spending a trillion more than we take in every year. everything has to be on the table. one thing i would suggest is that there are tipping points to everything. in the middle class segment people between $100,000 to $250,000 in home purchase price, mortgage interest makes sense to the middle class borrowers. and the question is do they count that when they look to buy a home versus rent. people stopping buying altogether. if it has an impact, how does that impact construction? has to be on the table. it has to be something we take in context with the broader picture. >> help us get rid of freddie and fannie some day too. put something together for me, will you? >> keep in mind, while we sit around and vilify freddie and fannie. >> see you love them. that's a shock. >> i don't. i think we ought to go away from them. but we need liquidity to ensure there's capital. >> can't do it now. especially now. all right. great hair. good looking man. and you watch, unlike some other people that work here. anyway, thanks, dave. >> you may not watch for a few minutes when you walk to get
, nor sleet senator snow nor deficit. no word this morning, saturday mail delivery is back on. >>> and 911 shocker. >> can you tell can you tell me by tapping on the phone once that do not open the door. >> 911, where is your image? >> the frightening moments and amazing end. live on the cnn newsroom. >>> good morning, thank you for joining us. i'm carol costello. three people dead at the marine base in quantico. the base is in lockdown, law enforcement surrounded the building. >> the shooter, an active duty marine, was pronounced dead of an apparent self-inflicted gunshot wound by law enforcement at the scene. two other victims, a male and female, both active duty marines, were pronounced dead at the scene. the three marines involved in this incident, all permanent personnel assigned to officer candidate school. all of the candidates in the school are accounted for and safe. >> the base is used mostly for training and it's known as crossroads of the marine corps. we will have a live report at the bottom hour. >>> also following a truly horrifying story from georgia's southern
spending but leaves the government with $566 billion in annual deficits over the next ten years. the house plan balances the budget by 2023 with big cuts in domestic spending and major changes to medicare and the tax code. charlie rangel, new york's most famous congressman, is here with me. former chair of the house ways and means committee. start with the chasm between the two plans. is there room for compromise at all between the senate and house plan? >> the major difference is that, obama and most of the country that voted for him really thinks that a time of recession that we're coming out of it that we should be creating jobs and not laying off people just with cuts. that is the difference. the major difference between the senate and the house. republicans say no taxes, no money, no investment. well, that's absolutely ridiculous. in order to get people back to work and having disposable income, you've got to invest in education, the infrastructure, the bridges and the tunnels. there's no money in the republican, because they say that we're taking care of revenues. where the heck that
if rates were liar. they had the time because rates were so much lower and deficit was going up slower. in a real sense the fed buying the treasuries has made it less painful for the government. >> i'm not sure if the population that chairs the euro or those that chair somewhat with central planning with regard to the 27 countries, but my question to you is i'm not sure we're going to lose any of these countries, but on the other hand, keeping their funding and the central bankers and the banks and insolvency all in line is a full -time job. is anybody worried about how we're growing these economies? is that the rally big elephant in the room? >> the growth hasn't phone zone up. we talked about it many times. what is the eventual exit strategy? our fed can't decide when to stop buying treasuries much less strengthen the balance sheet. >> i talked to jim bianco about the taper. this is another arena where the fed is going to paint themselves into a corner, they're going to move them up and down with every data point? in the end, they just have to say enough is enough, don't they? >> goi
for this in more ways than one. you think about the deficit, the government doesn't have this kind of cash and people are concerned this isn't necessarily the best use of taxpayer money. in the video, you saw a second ago, people are dressed up as crew members on a starship enterprise, and the government employee version of characters claiming they will boldly go where no government employees have ever gone before. it is funny. but i watched the videos with my producer and we were trying to to figure out the training value and people have similar questions. >> i have been since corrected and am about to burst into a fit of giggles and i inappropriately said it is "gilligan's island," not whatever i said. what is the irs saying about this in. >> they came up with this statement saying it is -- i'm quoting now, no mistaking this video does not reflect the best stewardship of resources, and that video of this type will not be made today. so the irs does say training gener videos in general are cheaper. that would involve some travel. >> okay. zain asher, thank you. >>> honeymoons, they are th
. here is the next question. is reducing the federal deficit a worthy goal in and of itself? and 85% say yes. 11% say no. it's not just john boehner who said it's not an immediate problem. paul ryan, the face of fiscal responsibility himself this past weekend on one of the sunday shows said not an immediate problem. so americans have gotten the message that it is a problem and that we should be tackling it right now, even though our lawmakers feel it can be down the road a year, five years, whatever we tackle it. >> brian: our next guest has nothing to at to this subject. so i'll move on. >> steve: he does. he's going to -- >> brian: he's coming out of his chair. solar companies were supposed to boost our economy. now evidence they might be tanking our economy. you remember solyndra that cost american taxpayers more than $500 million. turns out it may have a successor. >> steve: months after opening, the oregon based solar panel company, solo power, is facing layoffs, putting 250 million of our taxpayer dollars in jeopardy. apparently stuart varney, we learned nothing from solyndra. >> n
Search Results 0 to 32 of about 33 (some duplicates have been removed)

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